Capchase raises $200 million to replace the banks slowing down enterprise tech deals

Capchase, a New York-based vendor financing platform for enterprise technology companies, has raised more than $200 million in new funding to scale its embedded lending infrastructure globally. The round, a mix of debt warehouse facilities and equity from institutional investors, is the company’s largest to date and reflects growing demand for financing tools that can keep pace with modern B2B sales cycles.

The company’s pitch is simple. When an enterprise buyer wants to purchase cybersecurity software, networking hardware, or any other large technology product, the deal often stalls because the buyer’s CFO needs to preserve cash or wait for the next budget cycle. Capchase embeds financing options directly into the vendor’s sales workflow, turning what used to be weeks of back-and-forth with traditional lenders into near-instant approvals.

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Capchase says 97% of its lending applications are vetted and approved in under 30 seconds. That speed comes from building the platform natively inside Salesforce, where most enterprise sales teams already operate. The company describes itself as the only platform that functions as both the lender and the lending infrastructure, combining the capital that banks provide with the speed that software enables.

The funding will also support the rollout of a new product the company calls its Agentic Lending Coordinator. The AI agent collects quotes, purchase orders, emails, and other documents, then converts them into an executable loan package. It manages multi-party collaboration between vendors, channel partners, and buyers from package review through signing. Since the beta launch, Capchase says the tool has compressed an eight-hour process into a 60-second automation.

The $1.3 trillion vendor financing market has historically been dominated by banks and legacy lenders that rely on multi-thread email chains and manual document review for underwriting. For enterprise technology vendors, that friction translates directly into lost revenue. Deals that require financing take longer to close, and some never close at all because the approval process outlasts the buyer’s urgency.

Capchase’s customer list underscores where the demand is concentrated. Barracuda Networks, the cybersecurity company, uses the platform to offer subscription financing through its partner channel. CDW and Insight, the two largest IT solution providers in North America, rely on it for multi-party enterprise deals. MicroAge extends financing to the mid-market segment through the reseller channel. Other customers include Verkada, Motive, Okta, Datarails, and Netradyne.

The company has been building toward this moment through a series of deliberate moves. Founded in 2020, Capchase initially focused on providing non-dilutive growth capital to recurring-revenue startups. It raised an $80 million Series B led by 01 Advisors in 2022, backed by QED, Invesco, Thomvest, and others. In June 2025, it acquired Vartana, a competing vendor financing platform, to consolidate its position and accelerate its product roadmap.

The pivot from startup financing to enterprise vendor lending is now complete. Capchase’s AI powers core platform functions including underwriting, proposal generation, purchase order creation, and deal management workflows. The Agentic Lending Coordinator adds an autonomous layer on top, reflecting the broader shift toward AI agents handling complex enterprise processes that previously required human coordination across multiple parties.

The competitive landscape is fragmented. Banks have capital but lack the technology to move at the speed enterprise sales teams now expect. SaaS platforms and point-of-sale partners offer software integrations but do not lend capital directly. Buy-now-pay-later providers such as Klarna and Affirm dominate consumer financing but have limited penetration in B2B enterprise deals, where contract structures, multi-year terms, and channel partner relationships add layers of complexity that consumer-grade tools cannot handle.

Capchase’s approach of combining lending and infrastructure in a single Salesforce-native platform is a bet that enterprise tech vendors want a financing partner embedded in their existing sales tools, not a separate workflow. The broader trend toward agentic commerce, where AI agents handle purchasing decisions and transactions on behalf of humans, makes the speed argument even more compelling. If an AI agent is negotiating a deal, it cannot wait three days for a bank to review a credit application.

The timing also matters in the context of tightening enterprise budgets. As interest rates remain elevated and CFOs scrutinise large upfront expenditures more aggressively, the ability to offer instant financing becomes a competitive differentiator for vendors rather than a nice-to-have. A cybersecurity company that can offer its customers flexible payment terms at the point of sale has a structural advantage over one that cannot.

The growing wave of fintech companies building AI-powered financial infrastructure suggests Capchase is not alone in seeing the opportunity. But its focus on the specific intersection of enterprise technology sales, Salesforce integration, and direct lending gives it a narrower and potentially more defensible position than horizontal fintech platforms. The company is not trying to be a bank. It is trying to be the financing layer that makes enterprise tech sales faster.

Miguel Fernandez, Capchase’s CEO and co-founder, said the company’s goal is to turn vendor financing from a bottleneck into a growth lever for sales teams. Whether the $200 million in new funding is enough to establish that position at scale depends on how quickly Capchase can expand beyond its current customer base of IT solution providers and cybersecurity vendors into the broader enterprise technology market, where every major platform is racing to embed AI agents into its workflows.